Zydus Cadila gets USFDA nod for injection

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February 25, 2013

16:45 Pharmaceuticals firm Zydus Cadila today said it has received final approval from US health regulator to market generic Ranitidine Hcl (hydroclhoride) injection used in treating peptic ulcers.The approval from the US Food and Drug Administration (USFDA) is for Ranitidine Hcl injection of strength 25mg/ml, the company said in a filing to the BSE.Citing IMS data, the company said the estimated sales of Ranitidine Hcl was USD 5.4 million in 2012.

Pharmaceuticals firm Zydus Cadila today said it has received final approval from US health regulator to market generic Ranitidine Hcl (hydroclhoride) injection used in treating peptic ulcers.

The approval from the US Food and Drug Administration (USFDA) is for Ranitidine Hcl injection of strength 25mg/ml, the company said in a filing to the BSE.

Citing IMS data, the company said the estimated sales of Ranitidine Hcl was USD 5.4 million in 2012.

16:36

SC refuses to give more time to Sahara to refund Rs 24,000 crore to its investors.

15:45 State Bank of India today said it has fixed issue price of Rs 2,312.78 a share for preferential allotment to the government to raise Rs 3,004 crore as part of the capital infusion plan for the this fiscal.The infusion will enable the bank to support national and international banking operations through its subsidiaries and associates.

14:22 Shares of banks lost value on the bourses today amid the RBI issuing guidelines for new bank licences.More than a dozen corporates, including big names such as Aditya Birla Group, M&M, L&T, as well as state-owned PFC, LICand India Post, are likely to apply to the Reserve Bank for licence to open banks.The biggest loser was Canara Bank, whose stock was down 1.98 per cent in the afternoon trade.

14:16BlackBerry launches BB10 smartphone Z10 in India: The maximum retail price is Rs 43,490. The launch in India follows the global launch of the new operating system and two devices -- Z10 and Q10 -- powered by the new platform on January 30.The struggling smartphone maker has also re-christened itself as 'BlackBerry' from Research in Motion earlier as it looks to turn around its fortunes.The device will compete with Apple's iPhone and those based on Google's Android operating system, which have gained popularity across the world.

13:13 Economic confidence gets a boost due to declining inflation rate for the fourth consecutive month and positive investor confidence, according to a report in Economic Times.According to the " Ipsos Economic Pulse of the World" survey, India's economic confidence shot up by 8 points to 68 per cent in the month of January 2013 compared to the month of December 2012, making it the second most economically confident country in the world after Saudi Arabia.

12:29CAG discovers Rs 1,336 crore gap in EPFO books: The country's chief auditor has uncovered a Rs 1,336-crore negative balance in the books of the Empoyees' Provident Fund Organisation, the custodian of Rs 8.15 crore formal sector workers' lifetime savings.A report, prepared by the Comptroller and Auditor General (CAG) and reviewed by Economic Times, says this discrepancy in the EPFO's books for 2011-12 could grow further. For beneficiaries, this could mean lower returns on provident fund savings for 2012-13 and 2013-14, if the difference remains. The CAG's findings indicate that the PF rate for 2012-13 could have been as much as 9% if its accounts were in order.

12:27Infy 'turning the corner', says JPMorgan: The brokerage says Infosys "is likely turning the corner", given the company is proving more flexible in winning deals, embracing "a more realistic" margin profile and trying to re-engage with employees.JPMorgan raised its target price on Infosysto Rs 3,200 from Rs 3,100 while maintaining its "buy" rating.